Challenges in forecasting fleet development and deployment are in part due to fuel price uncertainty. To address this issue, a recent study developed an aircraft-specific Leontief technology operating cost model (LM) to compare aircraft costs under fuel price uncertainty. This model considers individual aircraft types to be Leontief technologies, such that the key drivers of cost must be used i...

Antimicrobials are used in animal agriculture to cure bacterial infectious diseases. However, antimicrobial use (AMU) inevitably leads to the selection of resistant bacteria, potentially infecting humans. As a global public threat, antimicrobial resistance has led policy makers to implement regulations supervising AMU. The objective of our research was to investigate the farm impact of several ...

Based on a relationship between price difference and demand difference among locations, the role of various market frictions in causing segmentation of the Russian goods market is analyzed. The spatial sample covers most of Russian regions (70 of all the 89); the data are yearly, spanning 1992 through 2000. Spatial disconnectedness of regions is found to be responsible for about 70 percent of a...

With few exceptions all paradigm changing contributions in the social sciences fall victim to multiple interpretations. These often dilute and obscure what made the contribution intellectually innovative. This is notably the case for Keynes and especially The General Theory. I argue that the core of Keynes's "game changing" contribution was the analytical insight that market economies are deman...

BACKGROUND This study aims at understanding the mechanisms underlying the dramatic decline of the retail prices of major drugs like cocaine and heroin during the past two decades. It also aims at analysing the implications of this decline for drug policies. METHODS We use a theoretical model to identify the possible causes of this price decline. This allows us to formulate the hypothesis that...

M any economists believe that price stability is the primary goal of monetary policy because it is thought to foster maximum sustainable economic growth. Price stability is often said to exist when changes in the general price level cease to be a factor in the decision processes of businesses and individuals. By this definition, price stability was not literally achieved in 1998, as many measur...

The primary goal of Federal Reserve monetary policy is to foster maximum long-term growth in the U.S. economy by achieving price stability over time. Price stability will be achieved, according to some definitions, when inflation ceases to be a factor in the decision-making processes of businesses and individuals. Although the Federal Reserve has made considerable progress toward price stabilit...